Overview: Since our last analysis, Gold has been trading upwards, the price rejected from the level of 1,182.14 (met both our down stations) and tested level of 1,238.33 on volume above the average. We got FR 61.8 % at the 1,237.00 price, which was held successfully, so we may expect further bearish movement. We can […]
In yesterday’s analysis we noted that the bigger degree upward corrective move started. Prices opened with a gap up around the $1,225 price level. We mentioned yesterday that long positions should only be considered if the gap was closed. We were expecting a pull back down and then another move upwards. Prices moved exactly as […]
Global manufacturing boosts commodities Morning Report: 08.30 London • This morning while stock markets fall off, commodities and commodity related currencies are on rise after a strong set of manufacturing figures across the world. • The S&P 500 looks set for its second straight day of losses, while the dollar index remains unchanged. • […]
Gold is moving towards new lower levels in the year of 2014 as well. Recent housing data showed the US economy came back. It increases the confidence level of the Fed. It will start tampering slowly. After the tampering we need to look at the other important factor such as interest rates. We expect interest rate […]
Weekly Chart The crude oil continues its weekly drop after a first attempt to continue climbing the first day of the week . This week oil has already lost more than 250 pips, it is very close to its weekly pivot located at 97.31 where it will probably find its support and resume its upward […]
Overview: Since our last analysis, Gold has been trading upwards, the price rejected from the level of 1,182.14 (met both our down stations) and tested level of 1,228.16 on volume above the average. We got FE 161.8 % at the 1,226.00 price, which was held successfully, so we may expect further bearish movement. We can observe decreasing volume on […]
Gold prices have met the minimum requirements for 5 wave, decline from $1,260, as on the last session of 2013, prices made a new lower low for wave 5. We were expecting prices to make the low below $1,1170 but, since requirements were met, we can conclude that the decline is over. The gap up opened […]
2014 Starts With Silver Lining Morning Report: 07.15 London • Despite a dip in Asian markets and disappointing Chinese manufacturing figures, markets have started 2014 on a high. European indices and US stock market futures are on the rise after a number of days of stagnation. • The dollar index is rising slightly, but […]
Daily Chart Crude oil has been falling for a second day. During yesterday’s session it was very close to its upper trend line which started to decline, falling below the line 8/8 and below its daily pivot located at 99.60. However, today crude may demonstarte its fourth annual rise in five years. It is expected […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,194.68 on low volume and that is the reason why we saw the small upward correction and the testing of 1,206.13.We can observe that supply on high volume has entered the market at 1,206.00, so the […]
Gold prices as expected by our analysis have not managed to move above the downward sloping channel resistance levels at $1,220 and reversed down. Prices have broken below the short-term pivot area of $1,205 and are now testing the first important support level at $1,1195. We continue to prefer the wave scenario shown in the […]
Markets head to 2014 with whimper Morning Report: 07.15 London • As we head to 2014, markets appear to be easing back early. Stock markets are unchanged and holding gains for late January. • Commodities are seeing the biggest movement, with silver down 0.46%, while gold is up 0.32%. • The Australasian pairs are performing […]
Gold melted after US home sales data. A guage of pending home sales increased 0.2%, after a 1.2% drop in the month of October. Economists are expecting in 2014 housing industry will grow further. Gold dropped after the data released. It holds the support at the trend line (hourly charts) due to low volatility. Traders […]
Overview Today’s H4 chart shows that the metal is trading between the support level of 19.55 and below the resistance level of 19.75. After its failure to break the resistance level 20.20 last week, silver bounced from it to take a slightly downward move below the resistance level of 19.75. Presently, we suggest waiting for closing […]
Daily chart Although the markets were interrupted last week for the holidays, Crude Oil managed to close above $100 a barrel as we were saying in our previous analysis. And during Monday’s session CL futures remained around maximum moving upwards for nine weeks. Market participants await the data on the evolution of sales of homes […]
Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price rejected from the level of 1,218.76 (FE 100 %) on ultra high volume and tested the level of 1,200.49 on high volume. According to the 1H chart, Gold finished bullish corrective phase. We can observe that strong supply on very […]
Gold prices have managed to reach $1,220, where the upper resistance level of the downward sloping channel is. Prices were expected to be rejected in this area and turn downwards. Breaking below $1,205 is the first bearish sign that wave 4 has ended. Gold pirces have finished their upward corrective wave (4) and are ready […]
Technical outlook and chart setups: 1. Gold has reached our expected levels around $1,219.00/20.00 and reversed, as depicted in a 4H chart here. It is recommended to initiate at least 50% short positions at $1,220.00 and the remaining around $1,227.00. 2. Resistance is spread through $1,220.00, followed by $1,227.00, $1,240.00/45.00, while support is spread through […]
Dollar pairs fall back as New Year beckons Morning Report: 07.15 London • This morning, the dollar pairs are falling back as traders pull back on the risk throttle. The AUD/USD is the biggest faller, down 0.20%. • Commodities are also feeling the pinch with Silver and Gold giving up most of last week’s […]
In Asia’s trading session gold is trading at the level of $1,210. Hourly chart indicates selling pressure. Traders are awaiting the US pending home sales data. We could expect a bit pull back to $1,215-$1,220 for selling chances. Support: $1,204, $1,200, $1,195. Resistance: $1,220, $1,227. Until gold close above $1,250, traders can go short on […]
Overview: Since our last analysis,Gold has been trading upwards, as we expected, the price tested the level of 1,215.53 (FE 100 %) on ultra high volume (buying climax). According to the 1H chart, Gold is in bullish corrective phase, so we placed Fibonacci expansion to find the levels for potential end of the bullish corrective […]
Gold is in downtrend within a downward sloping trend channel and we believe it currently makes its upward wave 4 bounce as shown in the chart below. Prices are now at $ 1,210 and we believe that the upward bounce is most probably over. Prices are expected to turn downwards towards $1,180 to complete our […]
Stocks stall while dollar sinks Morning Report: 07.15 London • In this small window between Christmas and New Year, markets are showing some movement. While stock markets are unchanged, the dollar index is falling heavily. • The dollar pairs are capitalising, with commodities are seeing the biggest movements. Silver continues to recover well, while […]
Daily chart The monthly crude oil production in the U.S. in the next year will exceed the volume of imports for the first time since February 1995, according to estimates released today by the Energy Information Agency. Meanwhile, the black gold is closer to the psychological level of $100 per barrel, after the opening of […]
Santa rally continues on the stock market after the US jobless claims fell more than forecast. Jobless claims turned down by 42k, the number stood at 338,000, forecast numbers had been 346,000. The data shows extremely strong. Gold made high at $1,215.5 yesterday. The yellow metal came back to the level of $1,200 and surprisingly […]
Daily chart. After pausing for a day of Christmas festivities, markets began to move again. For Crude Oil continues to move higher above its daily pivot located at $ 99.00 a barrel and even comes retreating slightly since opening the CL we will continue to seek the resistance encountered at the point of the $ 100.00 […]
Gold is currently in an upward wave 4 bounce of the declining move that started at 1,269. We expect prices to continue lower towards 1,140-1,150. The current wave structure is shown in the chart below. Prices are trading within a downward sloping channel. The trend in all time frames remains downward. However, we should note […]
Overview: Since our last analysis, Gold has been trading upwards, as we expected, the price tested the level of 1,205.00 on volume below the average. According to the 1H chart, Gold is in bullish corrective phase, so we placed Fibonacci expansion to find the levels for potential end of the bullish corrective phase. We got […]
Technical outlook and chart setups: 1. Gold has been in a downtrend since making highs at $1,920.00 levels. and it looks to be in its last leg down towards possible $1,150.00/60.00 in near future. It is therefore recommended to remain short or keep selling on intraday rallies for now. The risk remains at $1,250.00/52.00 for […]
Overview: Since our last analysis, Gold has been trading upwards, the price tested the level of 1,202.00 on average volume. According to the 1H chart, Gold has started bullish corrective phase, so we placed Fibonacci expansion to find the levels for potential end of the bullish corrective phase. We got FE 61.8 % at 1,205.22, […]
